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Focus Question:

Focus Question:. Explain the meaning of the following quote: “The Business of America is Business. The man who builds a factory builds a temple. The man who works there worships there .” -Calvin Coolidge. The Business of America. The Conservative Resurgence of the 1920s. Objectives.

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Focus Question:

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  1. Focus Question: Explain the meaning of the following quote: “The Business of America is Business. The man who builds a factory builds a temple. The man who works there worships there.” -Calvin Coolidge

  2. The Business of America The Conservative Resurgence of the 1920s

  3. Objectives After today’s lesson, you will: • Identify the basic philosophy of business and government in the 1920s. • Analyze popular opinions toward business in the 1920s

  4. The Return to Normalcy • The 1920s were a decade of reaction • America felt exhausted by the war • Many felt that progressive reforms were too fast and too furious • Many wanted a breathing space • Return the U.S. to the way it was before the war.

  5. Business Practices • Government worked to assist business • Adopt a laissez-faire approach • Promote investment • Fit the conservative policies of Harding and Coolidge

  6. Andrew Mellon • Secretary of the Treasury, 1921-1932 • Major economic plan • Increase investment • Reduce the national debt • Free up capital for investment • Promotes growth industries • “Trickle Down Economics”

  7. Results • Number of Millionaires tripled • More money invested in business • New construction boomed • The Stock Market Soared.

  8. Shifting Consumer Practices • Industrial Productivity was very high • Businesses required to sell their products • Most Americans were frugal • Avoid debt • Save money for the rainy day • Many more worked below the poverty rate

  9. Dawn of Modern Advertising • Persuade people to buy what is not needed • Psychological approach • Approached sales with science! • Coined new terms and insecurities

  10. Planned Obsolescence • Americans expected high quality goods • Expect goods to last • Manufacturers wanted people to buy new products • Limit the lifespan of items • Sponsor new models with minimal shifts

  11. Credit • People would buy without going into debt • Business had to find ways to stretch the dollar • Installment plans • Credit cards • Layaway plans • Increased debt loads dramatically

  12. Creation of a Consumer Culture • Americans become enamored of new gadgets • Labor-saving devices • Radios • Automobiles • A form of materialism little seen outside the very wealthy • Profound Impact on the country

  13. Summary • Describe two ways you could improve this lesson

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